Elon Musk’s artificial-intelligence startup xAI has secured $15 billion in its Series E funding round.

The round, set to close on Dec. 12, expands the company’s fundraising target by an additional $5 billion from the $10 billion previously reported by media in September.

The latest infusion values the company at about $200 billion, underscoring surging investor appetite for AI model developers competing with industry leaders.